Farmers are expressing concerns regarding agricultural trade, according to the latest Purdue/CME Group Ag Economy Barometer. The barometer slipped to 135 in March, down five points compared to February, but unchanged from January’s results. The decline was attributed to farmers weakening perceptions of current conditions and a decline in their expectations for the future. The index surveys 400 producers each …
Conaway Says Democrats Wrong to Oppose SNAP Changes
House Ag Committee Chair Mike Conaway says Democrats are not accurately portraying the changes he’s proposing to overhaul the Supplemental Nutrition Assistance Program(SNAP). Politico quotes Conaway as saying that Democrats on the committee will see the difference between what he’s proposing and “what they’ve been told Republicans are doing,” and will see the value in the idea. Conaway’s proposals include …
SBA Deadline to Apply for Working Capital Loans in Alabama is May 1
The U.S. Small Business Administration (SBA) is reminding businesses in Alabama that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations affected by Tropical Storm Cindy with tornadoes and flooding on June 21-23, 2017. “Businesses that suffered economic losses as a result of the disaster and want to …
Scott Signs Tax Cuts
Governor Rick Scott signed 74 bills into law last Friday including the tax-cut package, HB 7087, which totals about $171 million in tax and fee cuts. The package authorizes many things, including tax breaks for farmers and ranchers who suffered damage in Hurricane Irma. It offers tax breaks on agricultural fencing materials purchased for repairs after the hurricane and includes …
Broadband Investment and Section 199A Tax Code Fix in Omnibus Applauded by Perdue
Broadband: U.S. Secretary of Agriculture Sonny Perdue applauded the robust investment of $600 million in rural broadband for the U.S. Department of Agriculture (USDA), which was included in the FY 2018 Omnibus Spending Package. The funding comes at a time when President Donald J. Trump is pursuing an ambitious agenda to rebuild America’s infrastructure, including a special emphasis on rural …
Omnibus Spending Bill Also Contains Livestock “Fixes”
The U.S. Cattlemen’s Association was pleased to see that the omnibus appropriations spending bill released on Wednesday night has what it called “two common-sense solutions to regulatory overreach in the Fiscal Year 2018.” The spending bill includes a one-year delay of the Electronic Logging Devices mandate for livestock haulers. It also excludes livestock producers from the reporting requirements of the …
Appropriations Bill Agreed Upon by Congress, Contains Section 199A “Fix”
The Hagstrom Report says congressional leaders have agreed on an omnibus appropriations bill to fund the government through September 30. It passed a House vote, 256-167, and is expected to pass in the Senate before the weekend. There may still need to be a short-term continuing resolution if any senators object to the bill. The bill does contain a fix …
Trump: China Tariffs Will Total $50 Billion
President Donald Trump announced an estimated $50 billion in tariffs against Chinese imports today. Bloomberg says it’s a retaliatory move against intellectual property violations. The move will take effect on more than 100 different types of Chinese products. The overall value of the tariffs was based on economic estimates of the damage caused by those intellectual property violations. Last year, …
Perdue Comments Regarding Omnibus Spending Bill
U.S. Secretary of Agriculture Sonny Perdue issued the following statement regarding the omnibus spending bill released by Congressional leaders: “The omnibus spending plan released last night contains a number of our priorities at USDA. Fixing the so-called ‘grain glitch’ 199A problem is simply an issue of fairness. We should not be picking winners and losers through the federal tax code …
NFU Concerned About Harmful Modifications to Section 199A
Congressional appropriators revealed an omnibus appropriations bill that includes significant and harmful modifications to an important tax break for farmers and agricultural cooperatives. The break is known as Section 199A, was included in last year’s tax overhaul, as a means of leveling the playing field between ag cooperatives and corporations who received a sizeable tax break in the legislation. The …